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China stocks extend decline as trade war fears linger; Hong Kong flat

Tue 17th April, 2018 5:32am
* SSEC -0.4 pct, CSI300 -0.5 pct * HK->Shanghai Connect daily quota used 5.3 pct * Shanghai->HK daily quota used 3.5 pct * BNY Mellon ADR China Select Index -0.3 pct SHANGHAI, April 17 (Reuters) - China stocks fell further on Tuesday amid lingering concerns over trade tensions between China and the United States, and as investors pondered China's GDP data for the first quarter. ** The CSI300 index .CSI300 fell 0.5 percent, to 3,790.73 points at the end of the morning session, while the Shanghai Composite Index .SSEC lost 0.4 percent, to 3,099.90 points. ** In Hong Kong, Chinese H-shares listed in Hong Kong .HSCE fell 0.16 percent at 11,989.18, while the Hang Seng Index .HSI was unchanged at 30,316.14. ** The smaller Shenzhen index .SZSC was down 0.83 percent and the start-up board ChiNext Composite index .CHINEXTP was weaker by 1.32 percent. ** U.S. President Donald Trump accused Russia and China on Monday of devaluing their currencies while the United States raises interest rates. urn:newsml:reuters.com:*:nL1N1RT0K5 ** White House spokeswoman Sarah Sanders later told reporters that China is on a U.S. Treasury Department watch list for being potentially labeled a currency manipulator. ** The U.S. Department of Commerce has banned American companies from selling components to Chinese telecom equipment maker ZTE Corp 000063.SZ 0763.HK for seven years after breaking an agreement reached after it was caught illegally shipping goods to Iran. urn:newsml:reuters.com:*:nL1N1RT0IX ** In response, China's Ministry of Commerce said it's ready to take necessary measures to protect the legitimate rights and interests of Chinese companies. ** ZTE's shares in Shanghai and Hong Kong have been halted from trading on Tuesday. ** Investors were also pondering China's GDP data in the first quarter. ** China's economy grew 6.8 percent in the first quarter of 2018, slightly faster than expected, buoyed by strong consumer demand and surprisingly robust property investment despite continued measures to tame rising home prices. urn:newsml:reuters.com:*:nL3N1RU1LK ** But separate data showed March industrial output missed expectations and first-quarter fixed-asset investment growth slowed, tempering equity market gains. urn:newsml:reuters.com:*:nZZN0GA000 ** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.13 percent while Japan's Nikkei index .N225 was up 0.03 percent. ** The yuan CNY=CFXS was quoted at 6.2824 per U.S. dollar, 0.1 percent weaker than the previous close of 6.2761. ** The largest percentage gainers in the main Shanghai Composite index were Hna Innovation Co Ltd 600555.SS up 10.08 percent, followed by Lawton Development Co Ltd 600209.SS gaining 7.19 percent and Zhejiang Golden Eagle Co Ltd 600232.SS up by 6.72 percent. ** The largest percentage losses in the Shanghai index were Shanghai Fukong Interactive Entertainment Co Ltd 600634.SS down 9.74 percent, followed by Shanghai Feilo Acoustics Co Ltd 600651.SS losing 9.01 percent and Taiyuan Lionhead Cement Co Ltd 600539.SS down by 7.49 percent. ** The top gainers among H-shares were Dongfeng Motor Group Co Ltd 0489.HK up 2.73 percent, followed by Anhui Conch Cement Co Ltd 0914.HK gaining 2.61 percent and Postal Savings Bank of China Co Ltd 1658.HK up by 2.36 percent. ** The three biggest H-share percentage decliners were Guangdong Investment Ltd 0270.HK which has fallen 2.25 percent, Air China Ltd 0753.HK which has lost 2.2 percent and New China Life Insurance Co Ltd 1336.HK down by 2.0 percent. ** As of 04:12 GMT, China's A-shares were trading at a premium of 22.55 percent over the Hong Kong-listed H-shares. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ China stock market graphics suite http://reut.rs/1NfkoGl ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Luoyan Liu and John Ruwitch; Editing by Sunil Nair) ((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))
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